AUSTIN, Texas--(BUSINESS WIRE)--Summit Hotel Properties (NYSE:INN) (“the Company”) announced today that
Mr. Greg A. Dowell has been appointed Executive Vice President, Chief
Financial Officer and Treasurer effective October 1, 2014. Mr. Dowell
will succeed Mr. Paul Ruiz, who has served as interim Chief Financial
Officer since May of 2014. Mr. Ruiz will continue to serve in his
present position as Vice President and Chief Accounting Officer.

“We are extremely pleased to have Greg join our Summit management team.
He brings extensive and valuable experience with public company REITs,
specifically in finance, accounting, capital markets and operations,”
said Daniel Hansen, President and Chief Executive Officer of Summit
Hotel Properties. “His expertise and proven leadership will greatly
enhance our systems and processes as we continue to execute our
strategy.”

Most recently, Dowell held the position of Senior Executive Vice
President and Chief Operating Officer at American Campus Communities
(NYSE:ACC). During his thirteen-year tenure, Dowell managed all aspects
of operations, facilities management, human resources, information
technology and various aspects of accounting and systems development. He
played a key role in the development of ACC’s specialized operating
platform which facilitated American Campus Communities becoming the
first student housing REIT to be publicly traded in 2004. Since ACC's
initial public offering, Mr. Dowell orchestrated the successful
integration of more than $2.8 billion in asset growth and during his
career has overseen the management of over 44 million square feet of
residential and mixed-use real estate comprised of over 300 communities.

Prior to joining ACC in 2001, Dowell spent ten years in progressive
capacities with Century Development where he began as an accountant and
ultimately served as Senior Vice President of Management Services over
the student housing portfolio.

Mr. Dowell received his B.S. in Accounting from the University of
Louisiana at Lafayette and is a Certified Public Accountant.

About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly-traded real estate
investment trust focused primarily on acquiring and owning
premium-branded, select-service hotels in the upscale and upper midscale
segments of the lodging industry. As of September 11, 2014, the
Company’s portfolio consisted of 90 hotels with a total of 11,380
guestrooms located in 21 states.

For additional information, please visit the Company’s website, www.shpreit.com
and follow the Company on Twitter at @SummitHotel_INN.

Forward Looking Statements

This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
generally identifiable by use of forward-looking terminology such as
“may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,”
“anticipate,” “estimate,” “approximately,” “believe,” “could,”
“project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would”
or other similar words or expressions. Forward-looking statements are
based on certain assumptions and can include future expectations, future
plans and strategies, financial and operating projections or other
forward-looking information. These forward-looking statements are
subject to various risks and uncertainties, not all of which are known
to the Company and many of which are beyond the Company’s control, which
could cause actual results to differ materially from such statements.
These risks and uncertainties include, but are not limited to, the state
of the U.S. economy, supply and demand in the hotel industry and other
factors as are described in greater detail in the Company’s filings with
the Securities and Exchange Commission (“SEC”), including, without
limitation, the Company’s Annual Report on Form 10-K for the year ended
December 31, 2013. Unless legally required, the Company disclaims any
obligation to update any forward-looking statements, whether as a result
of new information, future events or otherwise.